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Chairman Kim Jung-tae of Hana Financial Group said the group is ready to take over an insurance firm at any time if the right opportunity arrives, but has ruled out taking over ING Life, which is being contested by KB Financial Group and Samsung Life, by saying it is not right for Hana.During a medi…
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Chairman Han Dong-woo has always stressed “warm financing” as his management ideology since his inauguration as the top executive of the Shinhan Financial Group last September.At the first executive meeting of the group he attended last year, the new chairman told the participants that financial i…
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Chairman Lee Pal-seung of Woori Financial Group has been pushing the group’s strategy this year to enhance its competitive power by strengthening risk management, expanding the base to generate more profit, securing a leading position for its non-banking sector, speeding up globalization of the gro…
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Chairman Euh Yoon-dae of KB Financial Group announced at the shareholders meeting on March 23 at the Kookmin Bank head office in Yeouido, Seoul, that the group will jump into the race to take over ING Life Insurance Co. in competition with other financial firms including Woori Financial Group. The f…
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Korea Export and Import Bank has decided to participate in Sukuk bond issuing with Aramco to finance the Sadara Project, the largest petrochemical plant project ever undertaken in Saudi Arabia.Aramco is slated to issue $2 billion worth of Sukuk bonds in the fall and Exim Bank will guarantee anywhere…
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We are ready to take about 400 billion won in losses by expanding our loans to SMEs this year,” said President Cho Jun-hee of the Industrial Bank of Korea (IBK) at his New Year media briefing on Jan. 2.Cho said the bank’s net profit projection for this year has been cut by 400 billion won from las…
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Chairman and CEO Chang Young-chul of Korea Asset Management Corp. (KAMCO) said in his congratulatory speech on KAMCO’s 50th anniversary on April 6 that he will steer the company to be an investment bank for the national economy by taking care of state assets and defaulted assets of state companies …
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Chairman Kang Man-soo of the KDB Financial Group said the group will look for proper-scale foreign banks for M&As if they are in the market during his visit to KDB Hungary in Budapest on March 19.Under the group’s M&A strategy, he told officials of the group’s Hungarian subsidiary that the…
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The Market Oversight Commission (MOC), under the umbrella of the Korea Exchange (KRX), put into place a stock market alert system effective March 12. The revamped system is considered to have a cooling effect on rapid stock price fluctuations caused by speculation or fictitious demand, thus contribu…
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The Monetary Policy Committee of the Bank of Korea decided to leave the Base Rate unchanged at 3.25% for the intermeeting period.Based on currently available information, the Committee considers some economic indicators in the US to have shown trends of further improvement, but economic activities i…
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CEO Hur Sae-hong of GS Caltex talks with GS Caltex staff members at GS Tower in Gangnam-gu, Seoul. (Photo: GS Caltex)GS Holdings said in an electronic notice released on May 13 that the holding company of GS Group posted 6,842.4 billion won in revenu…
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Chairman Chang Sae-joo of Dongkuk Steel Group. (Photos: Dongkuk Steel Group)Dongkuk Steel announced on April 24 that it posted sales of 857.2 billion won, an operating profit of 21.4 billion won, and a net profit of 6.2 billion won in the first quart…
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CEO Anwar A. Al-Hejazi of S-OIL. (Photos: S-OIL)S-OIL chalked up more than 1.2 trillion won in operating profit on the back of inventory profit, caused by crude oil price hikes for the first quarter of this year, in results that surprised analysts.Pr…
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Chairman Park Gee-won of Doosan Enerbility. (Photos: Doosan Enerbility)Doosan Enerbility said on April 23 that major Doosan Enerbility executives, including Chmn. Park Gee-won, embarked on efforts to promote cooperation to participate in a new power …
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